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Nature Republic shop in Myeong-dong most expensive spot in Seoul
By Ko Dong-hwan
By Ko Dong-hwan
The huge Nature Republic shop in Myeong-dong, downtown Seoul, occupies the most expensive piece in land in the capital, according to the latest figures from the Korea Real Estate Information Center (KREIC).
The space occupied by the shop is worth 254 million won (about $249,000) for every 3.3-square meter, which is one ``pyong,’’ the traditional Korean measurement for space.
The cheapest, usable spot in Seoul is on the slopes of Mount Dobong in northern Seoul, where one pyong is worth just 17,000 won, or about as pricey as a bowl of half-decent pasta.
The average price of privately-owned land in Seoul went up 3.4 percent as of May year-to-year, KREIC said.